Holyfield Takes it on the Chin Financially and Ed McMahon Speaks for Foreclosees…
Evander Holyfield is getting hit again, this time in the pocketbook. The former Heavyweight champ is broke and his $10 million mansion is slated to go to sale July 1.
A legal notice that appeared in a local newspaper shows his Fayette County estate is under foreclosure. The 104-room, 54,000-square-foot home worth an estimated $10 million is set to be auctioned by a bank on July 1.
And it’s not just the mortgage for Holyfield. One of his baby’s mamas is filing contempt charges for failing to pay $6,000 in child support. The 45 year old former champ hasn’t fought since last October and is trying to secure another shot at the title.
In boxing terms, Holyfield is to sports as Ed McMahon is to Hollywood. Both are far past their prime and financially shouldn’t be exposed to these kind of monthly expenses.
McMahon was on the Larry King Show and offered the following bold statement:
Well, I figured I wanted to, in a sense, speak for the million people you mentioned [facing foreclosure]. I heard that figure today and I just couldn’t believe it.
When I first read it, I was taken aback. How could this Hollywood celebrity speak for Mr. and Mrs. Joe Sixpack who are losing their homes? Ultimately both are suffering from the same problems, McMahon is just on a much bigger scale.
The former TV sidekick explained -
Well, if you spend more money than you make, you know what happens. And it can happen. You know, a couple of divorces thrown in, a few things like that. And, you know, things happen. You want everything to be perfect, but that combination of the economy, I have a little injury, I have a situation. And it all came together.
His current wife added -
I think over the years, you know, it’s just a kind of a combination of maybe Ed working so hard and not kind of looking at proper management, which happens a lot. … Because you’re a celebrity, people think you have a lot more than you have. And you always want to take great care of all of your friends and your family and everybody, and you do.
Spending more than you make, not planning carefully and trying to impress others. These are all characteristics the McMahon’s share with the Sixpacks and the Holyfields, Cansecos and Sprewells of the world. Yes Ed, you can indeed speak for all the people suffering financial misfortune.